Join our daily newsletter At The Bell to receive exclusive market insights
- Inca Minerals (ICG) intersects visible copper mineralisation in the third hole of its diamond drilling program at the NE Area of its Riqueza Project in Peru
- This hole has also shown increased veining, alteration and sulphide mineralisation compared to the previous two holes
- RP03 has reached 212.9 metres of its planned 380-metre depth but this may be extended depending on further observations and assay results
- Inca is proceeding to the fourth hole which is being drilled at a different porphyry target while it waits for assays from the first three holes
- Company shares are trading steady at 10.5 cents
Inca Minerals (ICG) has made encouraging observations from the third hole being drilled at the NE Area of its Riqueza Project in Peru.
The company is undertaking a 6070-metre diamond drilling program to test skarn and porphyry targets at the NE Area. So far, the program has focussed on the Puymanpata porphyry target.
The third hole, RP03, has intersected an altered sequence of limestone and andesitic sills with zones of copper sulphides and pyrite mineralisation.
Importantly, logging of this hole shows an increase in veining, alteration and sulphide mineralisation compared to the second hole which is located 300 metres away from RP03.
The third hole also intersected low levels of chalcopyrite which wasn’t recognised in preliminary logging of the first two holes.
The alteration and sulphide mineralisation that occurs in this hole indicates the increased influence of mineralised hydrothermal activity compared to RP01 and RP02.
RP03 is currently at a depth of 212.9 metres and is planned to be drilled to a 380-metre depth. However, this may be extended depending on geology and potential mineralisation intersected between the current and planned depth.
Assays are pending for the first hole and logging and sampling is underway for the second and third holes. The fourth hole will be drilled at the Pucamachay porphyry target which is located 1000 metres east of RP03.
Company shares were trading steady at 10.5 cents at 10:43 am AEST.
